The report "Building Panels Market by Type (Concrete Panels, VIP, SIP, Wood Panel), Raw Material (Concrete, Plastic, Metal, Wood, Silica), End Use (Floors & Roofs, Walls, Columns & Beams, Staircase), Application (Residential & Non-Residential) - Forecast to 2021", The global building panels market size is projected to grow from USD 170.83 Billion in 2016 to USD 230.93 Billion by 2021, at a CAGR of 6.21% from 2016 to 2021
The floors & roofs segment is projected to be the largest market in 2021. The demand for building panels for floors and roofs is expected to experience a higher growth rate, mainly because of the growing demand from the residential and commercial sectors. The Asia-Pacific region is projected to be the fastest-growing market for the floors & roofs segment owing to its increasing emphasis on building construction activities.
Asia-Pacific with emerging economies such as China and India would drive the building panels market. China is projected to have the largest market share and dominate the Asia-Pacific building panels market from 2016 to 2021. Developing markets such as China, the Middle East, and India are emerging as growth economies for building panels. Growing economies, rising population, and increasing disposable income of the population are acting as the main drivers for increased opportunities in these countries.
The major players in this market include Panasonic Corporation (Japan), Saint-Gobain (France), Nippon Steel & Sumitomo Metal Corporation (Japan), CRH plc (Ireland), Lafarge (France), Evonik Industries AG (Germany), Huntsman International LLC. (U.S.), Dow Corning Corporation (U.S.), Fletcher Building Limited (New Zealand), and Boral Limited (Australia). Companies have adopted new product/service launches to cope with the increasing demand in the emerging markets.
